PropertyGuru Announces Closure of and Layoff of 61 Employees

The decision was made as part of the company's strategy to focus investments on business areas that have experienced growth.

Handoyo Saputra | November 15, 2023 closed

Surprising news has come from PropertyGuru, a Singapore-based property company, announcing their plan to close their marketplace business in Indonesia, After operating for more than ten years, this decision will impact 61 employees who will face termination of employment.

CEO of PropertyGuru Group and Managing Director, Hari V Krishnan, released a statement stating that will cease operations on November 30, 2023. This decision is part of the company's strategy to channel investments into business sectors that have shown growth.

However, Krishnan emphasized that this closure is not due to a decline in Indonesia's property industry. Instead, it is a strategic move to align the company's investments.

Nevertheless, PropertyGuru assures support for affected employees. They are committed to providing severance packages above the standard, including health benefits and assistance for three months after their last working day.

Additionally, the company will offer three months of outplacement services and laptops to the laid-off employees to support their career transition. has been a significant part of Indonesia's property industry. However, PropertyGuru's decision to shut it down as part of their business restructuring has surprised many. Despite this, the company remains committed to minimizing the impact on their customers and partners.

This decision reflects the changing dynamics of business strategy amidst increasingly competitive markets. PropertyGuru remains dedicated to providing maximum support to affected employees and ensuring a smooth transition in closing down

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